VanEck to launch Bitcoin ETF

VanEck is set to launch a Bitcoin exchange traded fund (ETF) with hopes to democratise availability of the cryptocurrency for investors.

Arian Neiron, chief executive of VanEck, said: “We are looking at offering investors a spot-based Bitcoin ETF.

“This represents a huge move forward as investors will finally be able to access Bitcoin though a cost-effective, liquid investment vehicle. No more need for specialist exchanges, passwords and digital wallets to invest in digital assets.

Related News:

“In Australia, we will extend on our mantra of ‘Access the opportunities’ and believe any ETF we offer here will democratise holding cryptocurrency assets for all types of investors. The ETF vehicle is the optimal delivery mechanism and we look forward to working with the exchanges to further innovate and provide this unique opportunity.”

Earlier this year, Monochrome said it expected to launch a Bitcoin ETF which would have a lower barrier to entry than its Bitcoin managed fund.

VanEck’s announcement followed a report into crypto-assets by the Australian Securities and Investments Commission (ASIC) which stated it would help facilitate access to these assets.

At the moment, VanEck said it expected this new rule would apply to Bitcoin and Ethereum only but that future currencies could be added in the future.




Recommended for you

Author

Comments

Add new comment